Baker-Nel Deena 4

4 · Avery Dennison Corp · Filed Mar 3, 2026

Insider Transaction Report

Form 4

Period: 2026-03-01

Avery Dennison CorpAVY

Baker-Nel Deena

SVP & Chief HR Officer

Transactions

Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+432$84,145→ 5,779 total
Tax Payment
Common Stock
2026-03-01$194.78/sh−150$29,217→ 5,629 total
Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+361$70,316→ 5,990 total
Tax Payment
Common Stock
2026-03-01$194.78/sh−108$21,036→ 5,882 total
Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+315$61,356→ 6,197 total
Tax Payment
Common Stock
2026-03-01$194.78/sh−94$18,309→ 6,103 total
Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+646$125,828→ 6,749 total
Tax Payment
Common Stock
2026-03-01$194.78/sh−193$37,593→ 6,556 total
Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+811$157,967→ 7,367 total
Tax Payment
Common Stock
2026-03-01$194.78/sh−242$47,137→ 7,125 total
Award
2026 RSU Award
[F1]
2026-03-01+2,119→ 2,119 total
Exercise: $0.00From: 2027-03-01Exp: 2030-03-01→ Common Stock (2,119 underlying)
Award
2026 PU Award
[F2]
2026-03-01+3,063→ 3,063 total
Exercise: $0.00From: 2029-03-01Exp: 2029-03-01→ Common Stock (3,063 underlying)
Exercise/Conversion
2022 MSU Award
[F3]
2026-03-01−432→ 0 total
Exercise: $0.00From: 2023-03-01Exp: 2026-03-01→ Common Stock (432 underlying)
Exercise/Conversion
2023 MSU Award
[F4]
2026-03-01−361→ 357 total
Exercise: $0.00From: 2024-03-01Exp: 2027-03-01→ Common Stock (361 underlying)
Exercise/Conversion
2024 MSU Award
[F5]
2026-03-01−315→ 661 total
Exercise: $0.00From: 2025-03-01Exp: 2028-03-01→ Common Stock (315 underlying)
Exercise/Conversion
2025 MSU Award
[F6]
2026-03-01−646→ 2,021 total
Exercise: $0.00From: 2026-03-01Exp: 2029-03-01→ Common Stock (646 underlying)
Exercise/Conversion
2023 PU Award
[F7]
2026-03-01−811→ 0 total
Exercise: $0.00From: 2026-03-01Exp: 2026-03-01→ Common Stock (811 underlying)

Holdings

Common Stock (Savings Plan)
(indirect: Savings Plan)
1,721.977

Footnotes (7)

[F1]Restricted stock units (RSUs) vest 25% on each of the first, second, third and fourth anniversaries of the grant date. Each RSU represents a contingent right to receive one share of common stock.
[F2]Performance units (PUs) vest, at the end of fiscal year 2028, provided certain performance objectives are met as determined by the Compensation Committee in February 2029. Each PU represents a contingent right to receive one share of common stock.
[F3]Shares reflect the vesting of the fourth tranche of MSUs granted in February 2022 at 92% of target based on our absolute total stockholder return in excess of 10% during the 2022-2025 performance period, plus dividend equivalents accrued during the period.
[F4]Shares reflect the vesting of the third tranche of MSUs granted in March 2023 at 96% of target based on our absolute total stockholder return during the 2023-2025 performance period, plus dividend equivalents accrued during the period.
[F5]Shares reflect the vesting of the second tranche of MSUs granted in March 2024 at 92% of target based on our absolute total stockholder return during the 2024-2025 performance period, plus dividend equivalents accrued during the period.
[F6]Shares reflect the vesting of the first tranche of MSUs granted in March 2025 at 94% of target based on our absolute total stockholder return during the 2025 performance period, plus dividend equivalents accrued during the period.
[F7]Shares reflect the vesting of PUs granted in March 2023 at 56% of target, based 50% on our cumulative economic value added of 0% of target and 50% on our relative total stockholder return of 112% of target.

Signature

/s/ Vikas Arora attorney-in-fact for Deena Baker-Nel|2026-03-03

Documents

1 file

4
form4.xmlPrimary
PRIMARY DOCUMENT